Petsmart Inc Upgraded by JMP Securities to “Outperform”

 Equities research analysts at JMP Securities upgraded shares of PetSmart Inc (NASDAQ: PETM) from a “market perform” rating to an “outperform” rating in a research note to investors on Monday. The analysts currently have a $50.00 price target on the stock. They said that the company stands to benefit from coming inflation.

PetSmart, Inc. (PetSmart) is a specialty provider of products, services and solutions for the lifetime needs of pets. The Company offers a line of products for all the life stages of pets, and offers various pet services, including professional grooming, training, boarding and day camp. It also offers pet products through an e-commerce site. As of January 31, 2010, the Company operated 1,149 retail stores and had full-service veterinary hospitals in 752 of its stores. The Company has an investment in MMI Holdings, Inc. (MMIH), a provider of veterinary services. MMIH, through a wholly owned subsidiary, Medical Management International, Inc., operates full-service veterinary hospitals in 740 of PetSmart stores, under the trade name of Banfield, The Pet Hospital. The remaining 12 hospitals are operated by other third parties in Canada.

Shares of PetSmart Inc (NASDAQ: PETM) traded up 0.00% during mid-day trading on Tuesday, hitting $41.73. PetSmart Inc has a 52 week low of $25.14 and a 52 week high of $42.36. The stock’s 50-day moving average is $40.08 and its 200-day moving average is $36.47. On average, analysts predict that PetSmart Inc will post $0.54 EPS next quarter. The company has a market cap of $4.908 billion and a price-to-earnings ratio of 22.34.